AUDJPY Potential New UptrendAUDJPY has been on a downtrend since 3rd September. It has since tested a major Demand Zone thrice. Prices seem about to be making an uptrend from this point. I’ve plotted a Fibonacci Extension on the most recent impulse move and expect to ride the move up for a maximum of 60 pips.
Another scenario would be prices make an even deeper retracement from here but my bias on the uptrend still remains. Will use the Fibonacci Retracement tool if this happens.
Again, I will drop down to M15 to find a favourable entry, otherwise there will not be any entry.
